We bought two platinum weeks at the Playa Andaluza resort in Spain last September after being rushed into signing the contract by a salesman who, as we soon found out, has a bit of a reputation in Spain. Since then, we have come to the conclusion that the timeshare, which be bought from the developer, constitutes a huge financial burden, and one that seems hardly worth a two-week annual vacation on the Costa del Sol. In fact, we would love to surrender ownership sooner rather than later.
Seeing as people on this forum appear mostly happy with their investment, would you say we are being a little too pessimistic? I really wish to make an informed decision this time.
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As a fellow owner at Playa Andaluza who also purchased from developer before I learned about resales and prices, I can understand some of your concerns but I would say that you probably need to investigate more about how to best use your weeks before you decide to bail out.
First you need to look at what you really want to do with your vacation time. You said you purchased platinum season weeks. I am therefore guessing you are tied to school holidays or are you more flexible about when you go on vacation.
I am not dissolutioned with my ownership, but I have taken the time to lern how to use my weeks.
If you want to use yourweeks to go to other destinations, then you should investigate two optons.
1. The MVCI Destinations Club points system. Since you purchased from the developer (Marriott Vacations Club) you could enrole your two weeks in the DC which would allow you to exchange each week each year for the value of your week in points. The sales person should have explained the DC points option to you when you purchased but it sounds like he did not.
2. Interval Interntional. Since you purchased your weeks from MVCI, you should have an II account set up for you by MVCI with a complimentary membership paid for at least the forst year but possibly 2 years snce you purchaed two weeks.
Both of these options will allow you to look at exchaging your weeks in Playa for weeks or time at other resorts.The MVCI DC option has an enrolement fee and an annual membership fee but this will also give you a free II account in which your weeks are registered. My advice would be to look at the DC enrolement option and thus get the free II account but that will require a further outay of cash.
Did you sign up for the MVCI DC points system when you purchased your weeks?
The DC points system will give you the option to exchange to any of the other 50+ MVCI resorts - availability is of course the issue you would need to take account of. I have enrolled and used the DC points system and am very happy with the process and what we got for our vacation time.
Only once you have exhausted your investigations into how to best use the weeks should you seek to get out.
Getting out will depend on what you owe. Did you use finance to buy the weeks. If so and you still have the debt then you are in for some financial pain. What you could sell the weeks for on the resale market will be much, much less than you paid.
If you have outstanding debt on the purchase that will probably prevent the sale. If you stop paying the finance then you will enter into financial issues and credit will be impacted.
The sale price on trhe resale market will possibly be as little as 25% of what you paid for the weeks so selling might not be a very attractive option. Getting abuyer will be even more of an issue.
My advice would be to try to leverage as much benefit from your purchase as you can and take a long hard look at what the financialimplications are for you and your family. Only then should you make a decision to sell or not to sell. Needless to say you could ask MVCI to buy back the weeks but I would not be so hopeful.
sorry your in this boat
